Category: USDCAD

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USDCAD Weekly Forex Forecast 30 September to 6th October by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.2885 would begin in Midterm.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.3080 on 09/27/2018, so more losses minimum to Major Support (1.2885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 41.

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USDCAD Weekly Forex Forecast 22nd September To 29th September by yshashmi37 on TradingView.com

Midterm forecast: 

There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.2885 would begin in Midterm. 
Technical analysis: 

The RSI bounced from the resistance #1 at 61 and it prevented price from more gains. 
While the RSI uptrend #2 is not broken, bullish wave in price would continue. 
A peak is formed in daily chart at 1.3225 on 09/06/2018, so more losses minimum to Major Support (1.2885) is expected. 
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. 
Relative strength index ( RSI ) is 39.

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USDCAD short by yshashmi37 on TradingView.com

Midterm forecast:

• The current trend is uptrend but the forecast is beginning of downtrend.

Technical analysis:

• While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
• A trough is formed in daily chart at 1.3110 on 07/16/2018, so more gains maximum to Trend Hunter Sell Zone (1.3085 to 1.3125) is expected.
• Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
• Relative strength index (RSI) is 50.

Take Profits:

1. 1.3000
2. 1.2910
3. 1.2805
4. 1.2730
5. 1.2665
6. 1.2545
7. 1.2465
8. 1.2250
9. 1.2060